“The Progressive Income Tax” is one of those economic terms that gets bandied about, but few actually know what it means or how it works. This tale of three similar brothers with three different incomes (but one shared expense) helps explain the tax system under which we live. Adapted from an article by noted investor and economist, Kip Hagopian, and narrated by actress Carolyn Hennesy of “General Hospital” and “True Blood” fame, this animated story will change the way you think about how you pay your taxes.
Sourced through Scoop.it from: www.prageru.com
How did America create an exponentially large national debt over the past decade.. far larger than all the debt accumulated over the previous 2 centuries? Ben Franklin said a system where the electorate learns they can take from others, using the vote, will no doubt be the most direct way to destroy a country without firing a shot. Man is naturally greedy and if moral restraint is removed, the culture/society/country will destroy itself.
So what does a "Progressive Income Tax" do? This video should clear up the confusion.